Asia Pacific

In this round-up, China International Capital Corp plans to boost the size of its Shanghai IPO, the Hong Kong Monetary Authority plays down the impact of the national security law, and the People’s Bank of China revamps green criteria.

Chinese property developer Fantasia Holdings Group Co took advantage of the favourable market conditions on Thursday to raise money for refinancing. It found more support than anticipated, allowing it to seal a larger $350m bond.

Philippine real estate company Megaworld Corp raised $350m from bond investors on Thursday.

Ayala Land Real Estate Investment Trust is set to raise Ps12.3bn ($249.9m) from the Philippines' first Reit listing.

Manila Water Co managed to make its international bond debut on Thursday despite facing a number of challenges, including looming questions about its future amid a dispute with the Philippine government.

Investors flocked to Huzhou City Investment Development Group Co’s $300m bond, leading to a surprisingly large final book, a hefty 65bp price tightening and a headache over allocation.

Ping An International Financial Leasing Co has returned for a $340m loan to meet its refinancing needs.

South Korean investment bank Mirae Asset Daewoo Co raised a $600m bond this week, but had to navigate questions around the stability of its rating and credentials to get past the finish line.

Indian private sector lender Axis Bank has lined up four European banks for an equity sale that could raise up to Rp150bn ($2bn), according to a source close to the deal.

In this round-up, the already fraught relationship between the US and China faces fresh tests, as both countries continue announcing retaliatory measures against each other.

Sino Biopharmaceutical’s chief executive Tse Ping has sold a portion of his stake in the company for the second time this year, pocketing HK$3.15bn ($406.4m) but causing the stock price to tumble in the secondary market.

Coventry Building Society (CBS) is racing to price Economic Master Issuer 2020–1, with the help of arrangers HSBC and Lloyds, to meet the huge demand for the deal, which is a hybrid between a master trust structure and a standalone RMBS — the first of its kind. The transaction, set to herald the next step in master issuer structures, is an innovation which could open the door to more financial institutions committing to long-term RMBS programmes, writes Tom Brown.